Dollar General Turns to Former CEO to Rebound from Slumping Sales and Unsafe Conditions

Dollar General shares jumped over 9% Friday after announcing former CEO Todd Vasos is returning to lead the retailer.

Vasos, CEO from 2015-2022, replaces current CEO Jeff Owen as Dollar General tries to rebound from disappointing quarters and unsafe working condition penalties.

Dollar General missed estimates in recent quarters due to declines in customer traffic, shrink, lower inventory markups and damages.

The retailer faces challenges with its core low-income customer base as the macroeconomic environment worsens.

Vasos previously oversaw major growth at Dollar General, expanding stores by 7,000 and nearly doubling sales revenue during his tenure.